Delivering Business Model Innovation

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Information about Delivering Business Model Innovation
Business & Mgmt

Published on October 24, 2013

Author: selenasol

Source: slideshare.net

Description

Advice for in-the-trenches mid-level corporate entrepreneurs who are not just innovating new products or processes, but who are actually changing their firm's business model.

Selena Sol presents….. DELIVERING BUSINESS MODEL INNOVATION you’re not alone | it’s doable | but it’s hard

PART ONE INTRODUCTION

What is a Business Model?

What is a Business Model? "The way that your business delights customers in a unique, sustainable, & defensible way using it's core competencies to make wads of cash"

What is a Business Model? The way that your business delights customers in a unique, sustainable, & defensible way using it's core competencies to make wads of cash • Who are your target customers? • What are their pain points? • How are they trying to ease pain now? • How, where, & when do they buy?

What is a Business Model? The way that your business delights customers in a unique, sustainable, & defensible way using it's core competencies to make wads of cash • Who are your competitors? • How is your solution different vis-à-vis customer pain points? • How do you sustainably defend your position?

What is a Business Model? The way that your business delights customers in a unique, sustainable, & defensible way using it's core competencies to make wads of cash What are your uniquely great at, and how does it fit together? • Supply • Manufacture • Distribution • Delivery • Development • Brand

What is a Business Model? The way that your business delights customers in a unique, sustainable, & defensible way using it's core competencies to make wads of cash • • • • Revenue & Cost Models Collection & Payment Financing Strategy Exits & Returns

Why would you change your business model?!?

Customers change what they need Why would you change your business model?!?

Competitors change what they do Why would you change your business model?!?

Core competencies eventually commoditize Why would you change your business model?!?

and every now and then, everything about the world changes dramatically Why would you change your business model?!?

old models just lose steam Why would you change your business model?!?

So , you're basically forced Why would you change your business model?!?

But most companies fail to pivot

So why do some companies rise above the rest?

It's not about originality or being first So why do some companies rise above the rest?

It's not about size or age So why do some companies rise above the rest?

It's about execution So why do some companies rise above the rest?

HBR advises firms… • Have engaged, visible leaders & empowered teams • Ruthlessly focus on client value • Provide space & commitment to rethink everything • Align goals, culture, & incentives top to bottom • Communicate It's about execution So why do some companies rise above the rest?

but what can an individual do in the trenches So why do some companies rise above the rest?

PART TWO 8 THINGS YOU CAN PERSONALLY DO TO HELP DELIVER A SUCCESSFUL PIVOT

1. Understand the new model

1. Understand the new model 1.1 What served you well for the last 15 years may be the worst thing for the next 15

1. Understand the new model 1.2 Go out and talk to people again

1. Understand the new model 1.2 Go out and talk to people again Customers Competitors Colleagues Strangers

2. Get on board or get out

2. Get on board or get out There is no shame in saying this is not for me. But there is shame in not saying it.

3. Re-evaluate / Re-align

Re-alignment of values, vision, objectives, metrics happens at all levels, not just executive 3. Re-evaluate / Re-align

What are you prepared to commit to? • Stop • Start • Continue Re-alignment of values, vision, objectives, metrics happens at all levels, not just executive 3. Re-evaluate / Re-align

4. Retool

4.1 Take the development & management of strategically aligned training plans seriously 4. Retool

4.2 Dude, Coursera already (actively learn) 4. Retool

5. Build positive support networks for you & others

Avoiding the water cooler is bogus advice 5. Build positive support networks for you & others

People need to: • Blow off steam • Get recon – even if incomplete data Avoiding the water cooler is bogus advice 5. Build positive support networks for you & others

Just find the right balance 5. Build positive support networks for you & others

6. Create a fast-failure-friendly environment

7. Shift Leadership, followership, & managership styles

8. Communicate & Listen

Once more for good measure 1. 2. 3. 4. 5. Understand the new model Get onboard or get out Re-evaluate and Realign Retool Build positive support networks for you and others 6. Create a fast failure-friendly environment 7. Shift Leadership, followership & managership styles 8. Communicate and Listen

Selena Sol asks….. SHARE THIS DECK & FOLLOW ME (please-oh-please-oh-please-oh-please) http://www.slideshare.net/selenasol/presentations stay up to date with my future slideshare posts selena@selenasol.com http://www.linkedin.com/pub/eric-tachibana/0/33/b53

CLICK HERE FOR MORE!!!!

Image References • http://hdwallpapers4free.com/abstract-vector/machine-wheels-desktop-wallpaper-6504/ • http://piixo.com/cliff-jumping/ • http://mystery-of-my-spirit.blogspot.sg/2012/12/the-graveyard.html • http://noaseo.files.wordpress.com/2011/07/chimp-thinking.jpg • http://worksmartlivesmart.com/read-a-new-book-month-december/ • http://www.lovebutblog.com/overruling-the-dick-tatorship-in-our-house-so-long-choices/ • http://www.mbopartners.com/independents-guide/grow/reevaluating-your-independentconsultancy-goals • http://www.pickthebrain.com/blog/5-steps-for-retooling-in-the-new-job-market/ • http://www.edupics.com/coloring-page-to-give-a-pat-on-the-back-i13471.html • http://www.huffingtonpost.ca/2013/01/20/canada-light-bulb-ban_n_2516459.html • http://www.toolstop.co.uk/victorinox-1370300np-climber-swiss-army-knife-red-1370300p17431 • http://vintagetexas.com/blog/?p=1022 Doc References • http://blogs.hbr.org/2013/09/why-large-companies-struggle-with-business-model-innovation/ • http://mnasq.org/wp-content/uploads/presentations/BestPracticesinChangeManagement.pdf

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